TitoPuente
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Post by TitoPuente on Aug 15, 2022 8:36:36 GMT
The Bar Date was 4 August, which is 35 days after 30 June, when the schedules were distributed (Assuming it is 35 calendar days and not working days).
It is time for BDO to advise whether or not there was any appeal.
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lofty
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Post by lofty on Aug 16, 2022 6:52:45 GMT
The Bar Date was 4 August, which is 35 days after 30 June, when the schedules were distributed (Assuming it is 35 calendar days and not working days). It is time for BDO to advise whether or not there was any appeal. When we first got the email with a breakdown and a date I was pretty cheery. Then over the next few days I read it again, the returns weren't specified and the dates came with caviats. I have some builders doing work on my house at the moment and its a similar pattern - yes, "we'll get it done it 35 days!" Two months later and all you've got is an empty skip. Replace the word skip with 'wallet' and its the same! So, assuming just 1 individual appealed does that block payments for everyone?
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TitoPuente
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Post by TitoPuente on Aug 18, 2022 7:46:21 GMT
So, assuming just 1 individual appealed does that block payments for everyone? “The Liquidators will communicate their decision in relation to any appeal as soon as possible”. “When making distributions, the Liquidators will be entitled to retain a reserve in relation to any appeal that has not yet been determined”. So, an appeal should not indefinitely stop distributions to victims, but has the potentiality to delay the process. How long is “as soon as possible”?
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Greenwood2
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Post by Greenwood2 on Aug 18, 2022 17:28:07 GMT
So, assuming just 1 individual appealed does that block payments for everyone? “The Liquidators will communicate their decision in relation to any appeal as soon as possible”. “When making distributions, the Liquidators will be entitled to retain a reserve in relation to any appeal that has not yet been determined”. So, an appeal should not indefinitely stop distributions to victims, but has the potentiality to delay the process. How long is “as soon as possible”? As long as a piece of string.
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m2btj
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Post by m2btj on Aug 25, 2022 11:35:57 GMT
Lowlights from today's FCA email update. Defer, defer, defer!
It still appears that the FCA’s action against the Currie brothers is likely to last until sometime in May 2023; and that date is dependent on the jury reaching a verdict and any appeals that might be made. As such, although I understand further delay to the investigation of your complaint will be frustrating and sympathise with your position, I hope that it does not come as a surprise that the investigation of your complaint remains deferred. At present, it looks as if the Complaints Department will begin investigating your complaint in mid-2023.
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duck
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Post by duck on Aug 25, 2022 12:11:12 GMT
Lowlights from today's FCA email update. Defer, defer, defer! It still appears that the FCA’s action against the Currie brothers is likely to last until sometime in May 2023; and that date is dependent on the jury reaching a verdict and any appeals that might be made. As such, although I understand further delay to the investigation of your complaint will be frustrating and sympathise with your position, I hope that it does not come as a surprise that the investigation of your complaint remains deferred. At present, it looks as if the Complaints Department will begin investigating your complaint in mid-2023.Hardly surprising (unfortunately) but nothing can be done until the case is over. In a related matter I was drawn to the FCAs response to Premier FX (another case I have been following closely) and I note a couple of things Col is far worse with the FCA changing the register themselves which allowed the entry to lapse. This was of course kept quiet from investors. and *Premier and Col complaints coincide to a large degree in their timelines. Note, unlike Premier the FCA do not have a large bank to grab the compensation from for Col.
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tommytaylor
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Post by tommytaylor on Aug 28, 2022 8:01:37 GMT
Anyone have any ideas why we have still not heard anything from BDO regarding any sort of appeal or not?
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duck
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Post by duck on Aug 28, 2022 16:07:36 GMT
Anyone have any ideas why we have still not heard anything from BDO regarding any sort of appeal or not? Not personally. Lets face it BDO have hardly been responsive in their communications to investors ....... In my last post I said When the last round of letter writing to MPs took place a fair number of people received nonsensical replies from their Conservative MPs (a lot of them were Ministers). Where appropriate response letters were then sent back to the MP. I strongly believe the initial letter sent out by MPs (it was a boilerplate reply, I saw many copies of the same letter signed by different MPs) was written in response to Premier FX, the tell tales in the letter were mention of 'payment systems' etc. Obviously no help to getting Col sorted out but it certainly illustrated how some MPs are not ' working for you'.* *This does not apply to all MPs some have been very helpful and continue to be.
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micky
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Post by micky on Sept 12, 2022 20:53:04 GMT
Hi. I was just wondering, has anyone received any money yet as part of this "interim payments" plan? Does anyone more knowledgeable about the matter has any thoughts? I was wondering whether is it going to be a few months, maybe before the end of the year? Not yet. The 35 days to the bar date isnt up yet. Until that is reached we wont know if there are any challenges to the plan which may cause further delay. I would expect any update around the middle of August when the bar date has passed advising a timeframe for payments. Is there any news/whispers etc about this please Duck?
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duck
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Post by duck on Sept 13, 2022 1:31:42 GMT
Not yet. The 35 days to the bar date isnt up yet. Until that is reached we wont know if there are any challenges to the plan which may cause further delay. I would expect any update around the middle of August when the bar date has passed advising a timeframe for payments. Is there any news/whispers etc about this please Duck? I have heard absolutely nothing, there again I have no 'in's' to BDO/the liquidation so perhaps this is no surprise. I previously speculated, based on the information available (Court dates, cooling off periods, 35 day bar period etc etc), that interim payments could/should be made this month. I stand by that position. What I don't know is BDO's position. Are they perhaps waiting for a sale to go through to make the payments better/hide bad news? No idea. Sorry I can't help but I am as much in the dark as other investors.
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averageguy
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Post by averageguy on Sept 21, 2022 9:24:47 GMT
Two thirds of September gone and still no pennies distributed ……fiasco
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tommytaylor
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Post by tommytaylor on Sept 22, 2022 7:07:07 GMT
Two thirds of September gone and still no pennies distributed ……fiasco Sick to the back teeth of these con men. Are you confident duck
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duck
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Post by duck on Sept 22, 2022 9:33:00 GMT
Two thirds of September gone and still no pennies distributed ……fiasco Sick to the back teeth of these con men. Are you confident duck Not now. I have found out this morning that one, possibly more challenges have been launched. I know no more at present but I expect the lawyers will be busy ......
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tommytaylor
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Post by tommytaylor on Sept 22, 2022 16:31:04 GMT
Sick to the back teeth of these con men. Are you confident duck Not now. I have found out this morning that one, possibly more challenges have been launched. I know no more at present but I expect the lawyers will be busy ...... Thanks Duck. The nightmare continues. I seriously hope these challengers do not have discrepancies for pennies
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duck
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Post by duck on Sept 23, 2022 1:06:15 GMT
Not now. I have found out this morning that one, possibly more challenges have been launched. I know no more at present but I expect the lawyers will be busy ...... Thanks Duck. The nightmare continues. I seriously hope these challengers do not have discrepancies for pennies The one I know about is a serious and sensible challenge. It is related to money that was either invested in a different loan to the one intended or has gone missing. If I was in the same position I would, I believe, have challenged the distribution in order to get, at a minimum, clarity from BDO. The good news for other investors is that this challenge was forseeable if you had the details of everybodies investments in front of you as BDO does. I have not been able to find out if other challenges have been made. The timescale for the interim payment are now unknown ................ and BDO's silence to investors continues.
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